copper prices

The Metal People are Dying For

The Metal People are Dying For

Maybe the weak are simply being weeded from the gene pool so the strong may survive… This theory might help explain why people keep electrocuting themselves to death, cutting into live power lines to extract copper. Stories of deaths related to copper thefts have been all over the news: Last summer, a 42-year-old Appalachian man died while trying to steal copper from a live power line. Charleston Daily Mail reported “American Electric Power says copper thieves are becoming increasingly brazen, and their tactics have resulted in four deaths so far this year in the Appalachian service region.” An Illinois man hit a live wire while scrapping for copper last fall and was electrocuted. Police said this is a recent trend, with similar activity in Granite City, Venice, Brooklyn, Washington Park, and Belleville. In October, a couple from Southern California attempted to steal copper from an electrical vault. The man was electrocuted to death; the woman suffered severe burns from attempts to pull the man from the vault when it exploded. And just last month , a man attempted cutting live copper wires with a bolt cutter. He suffered from electric shock and fell 30 feet from his ladder, later dying at a Charlotte hospital. I could go on, but I think you get the point. I guess these people aren’t bright enough to know that rather than risk electrocution, it’s easier to rob someone’s house and …

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Southern Copper (NYSE:SCCO) PT Bumped Up on Projected Copper Price Increase

Southern Copper (NYSE:SCCO) was given a big boost in its price target today from Deutsche Bank (NYSE:DB), citing expectations copper prices will continue to move up. Deutsche said, “We believe Southern Copper deserves to trade at a higher multiple than its peers given its high growth potential and high dividend payout policy.The firm notes, “Southern Copper (SCCO) is the world’s 6th largest

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Freeport (NYSE:FCX), BHP (NYSE:BHP), Teck (NYSE:TCK), Southern Copper(NYSE:SCCO) Plunge on Falling Copper Prices

Copper prices have plummeted today, dragging down heavily-exposed copper companies like Freeport-McMoran (NYSE:FCX), BHP Billiton (NYSE:BHP), Teck Resources (NYSE:TCK) and Southern Copper(NYSE:SCCO). Much of this was precipitated by the weakening euro versus the U.S. dollar, as the dollar index rose early in the trading session. There is also the continuing uncertainty as to the demand which

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Endeavour (AMEX:EXK), Silver Standard (NASDAQ:SSRI), Mag Silver (AMEX:MVG) All Down on China Inflation Concerns

Endeavour Silver (AMEX:EXK), Silver Standard Resources (NASDAQ:SSRI), Mag Silver Corp. (AMEX:MVG) were all punished on Friday when China’s consumer price index (CPI) came in higher than expected, increasing to 4.4 percent. Silver and gold prices all fell significantly as speculation China may battle their inflation by implementing higher interest rates drove down commodities, especially most

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Freeport (NYSE:FCX) Exceeds Expectations on Higher Commodity Prices

Led by higher copper and gold prices, Freeport-McMoRan (NYSE:FCX) soared in the third quarter, with earnings rising by 30 percent over the same period in 2009, rising to $1.2 billion, or $2.49 a share. Analysts had been looking for $2.12 a share. Revenue was up almost by the same, increasing to $5.2 billion, rising by 27 percent from $4.1 billion last year in the same quarter. That means margins

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Freeport (NYSE:FCX) Fair Value Raised by Morningstar (Nasdaq:MORN)

Morningstar (Nasdaq:MORN) said they are raising their fair value estimate for Freeport-McMoRan (NYSE:FCX) by $4 a share on the soaring price of gold. “We are raising our fair value estimate for Freeport-McMoRan FCX by $4 per share to reflect the rapid appreciation we’ve seen in gold over the past few months. In contrast to our long-term price forecast for copper, which is informed by our view of

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Market Wrap-Up for Oct.6 (ABX, AEM, MA, FCX, MTB, more)

Market Wrap-Up for Oct.6 (ABX, AEM, MA, FCX, MTB, more)

The focus on the markets lately have been the high-beta names, but as you can see by today’s downturn, traders are loving them one day and shooting them the next. Ask any traders that are trying to make a living in these active names and they will tell you it has been a coin toss trying to figure out the day’s trend. Elsewhere, gold-related shares have also been at the top of traders’ lists, where the trend has been spiking higher the last couple of weeks. I continue to mention how technically gold’s uptrend looks solid, but watch out for the “melt-up” action we are seeing. You can easily see a reversal catch longs off-guard, so be careful with names like Barrick Gold ( ABX ) and Agnico-Mines ( AEM ) . One of the stats that traders may be paying attention is that 88% of stocks on the NYSE are trading over their 50-day moving averages. When we see these percentage this high, the market is screaming that it is short-term overbought. Leading the way lower today in the financial space were companies like M&T Bank ( MTB ) and Mastercard ( MA ) . Shares of Freeport McMoran ( FCX ) hit new 52-week highs as copper prices march back up to the $4 a pound level. Another interesting stat out today was ADP’s national employment report, which showed U.S. private employer payrolls fell by 39,000 jobs in September. A Reuters consensus forecast was for an increase of 24,000 jobs. Clearly, the job market remains gloomy in the short-term. One of the messages I am giving students in some of my recent speaking appearances is to start putting seeds out early for the career they’re looking to get into. It pays to talk to people in the field you are leaning toward. You may get some much-needed insight as well as potential opportunities to land a key internship or part-time work opportunity. I hope everyone is enjoying the new video segments our editor Tom Reese and I are producing on the site. Feel free to reach out to us with more ideas on what you would like to see discussed. I am also proud to announce that I have signed a book deal with FT Press/Pearson, in which we will be publishing a book about dividend stock investing, personal finance tips and more. I will be providing everyone with more details as things begin to materialize. As always, be sure to check

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Goldman Sachs Forecasts $11,000 a Ton for Copper

Goldman Sachs Forecasts $11,000 a Ton for Copper

Filed under: Analyst Reports , Forecasts , Commodities First off we should distinguish between precious metals and base metals. Copper and zinc fall in the category of base metals. Base metals are used in construction and products. So copper and zinc are more a supply-and-demand play than precious metals. The prices of base metals move almost in lock-step to basic supply. Goldman Sachs Group ( GS ) has an international division that specializes in commodities. Much of the data comes from London, which is a hub for commodities trading. The London Metals Exchange (LME) is where this trading takes place. Traders like Goldman can monitor trading and inventories at the LME and run estimates of supply and demand based on trading activity, both on and off exchanges. Continue reading Goldman Sachs Forecasts $11,000 a Ton for Copper Goldman Sachs Forecasts $11,000 a Ton for Copper originally appeared on BloggingStocks on Tue, 05 Oct 2010 13:40:00 EST. Please see our terms for use of feeds . Permalink  |  Email this  |  Comments

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Citigroup (NYSE:C) Drops Freeport (NYSE:FCX) from "Top Picks Live" List

Citigroup (NYSE:C) cut Freeport-McMoRan (NYSE:FCX) from its “Top Picks Live” list, citing recent valuation. Increase in copper and gold prices has pushed the stock up to levels that Citigroup seems to think are unsustainable, as the share price of Freeport drop in response. Even so, Citi is maintaining a “Buy” on the firm, saying “the company’s growth prospects, discounted valuation relative

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Newmont (NYSE:NEM) Earnings Rise, But Estimates Not Met

In somewhat of a surprise, Newmont Mining Corp (NYSE:NEM) failed to meet analysts’ estimates, although they did enjoy solid earnings for the quarter.With gold prices soaring for the quarter, expectations were high that the company, and the overall industry, would have extraordinary results. It wasn’t gold prices, but rather declining copper prices which caused the company to miss

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Freeport (NYSE:FCX) Earnings Increase 10 Percent in Second Quarter

Freeport McMoRan Copper & Gold Inc. (NYSE:FCX) enjoyed a 10 percent increase in earnings in the second quarter, as higher copper and gold prices helped them to a strong showing, even though production numbers were down.The miner earned $1.49 a share after excluding one-time items, far above the $1.34 a share analysts had been looking for.Copper prices surged 38 percent higher on average during

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Freeport (NYSE:FCX) Earnings Report Should Reveal Economic Conditions

Although many were looking for Alcoa (NYSE:AA) to give some guidance as to economic conditions, Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) will probably be a more accurate measure, although combined with Alcoa’s numbers, could give a snapshot of where the economy really is at, against the numerous assertions and conflicting reports out there. Tomorrow morning Freeport gives its earnings

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